CryptoCoinsInfoClub.com

Blockchain News India

No, India Won't Ban Bitcoin And Will Embrace Blockchain Technology

No, India Won't Ban Bitcoin And Will Embrace Blockchain Technology

The Indian government talks a big talk when putting down Bitcoin and other cryptocurrencies, but such actions has done little to curb their popularity. In his annual budget speech today , Union Finance Minister Arun Jaitley once again made clear the governments intention to halt the use of Bitcoin and other cryptocurrencies in India, claiming the South Asian country does not recognize digital currency as legal tender. He states: The government does not consider cryptocurrencies legal tender or coin, and will take all measures to curb the use of these crypto-assets in financing illegitimate activities or any part of payment systems. However, Jaitley has said nothing about banning Bitcoin or cryptocurrency trading. In fact, he claims the government will instead encourage blockchain technology in traditional payment systems, illustrating that the Indian government does indeed see the value behind cryptocurrency, if not as legal tender. India is one of the largest markets for Bitcoin trading, with roughy 1 out of every 10 transactions worldwide taking place in the South Asian country. The Indian government, however, has long been negative on cryptocurrenciesonce even likening them to Ponzi schemes in a December 2017 press release that said: Virtual Currencies (VCs) dont have any intrinsic value and are not backed by any kind of assets. The price of Bitcoin and other VCs, therefore, is entirely a matter of mere speculation resulting in spurt and volatility in their prices. There is a real and heightened risk of investment bubble of the type seen in Ponzi schemes which can result in sudden and prolonged crash exposing investors, especially retail consumers losing their hard-earned money. Consumers need to be alert and extremely cautious as to avoid getting trapped in such Po Continue reading >>

This Indian City Is Embracing Blockchain Technology -- Here's Why

This Indian City Is Embracing Blockchain Technology -- Here's Why

This Indian City Is Embracing BlockChain Technology -- Here's Why Opinions expressed by Forbes Contributors are their own. Sharanya is a digital media expert who works with leading U.S. and Indian companies and brands, modernizing theirdigital strategy. Vishakhapatnam, or Vizag, is home to one of India's largest container porst. (INDRANIL MUKHERJEE/AFP/Getty Images) Indian Prime Minister Narendra Modi recentlyhailed blockchains transformative potential and emphasized the need for "rapid adaptation," a rare instance of a head of state publicly praising the technology. Blockchains grand promise is to do for transparency what the Internet did for communication. It increases trust between two parties -- a particularly big deal in economies with low counterparty trust. More than 80% of Indians work in the informal economy , which relies more on interpersonal trust than formal contracts, leaving them vulnerable to fraud. The country has a 69% bribery rate and was ranked the most corrupt nation in Asia in 2017. Loan frauds average almost $2 billion a year , and to hedge against this, interest rates on business loans routinely run high, up to 20%, denoting low trust. Modi's comments were not in isolation. For a while now India has been bullish on blockchain -- and a port city, nicknamed the city of destiny and relatively unknown on the world stage, is emerging as the country's blockchain hub. In 2016, the government of the southeastern state of Andhra Pradesh launched the ambitious FinTech Valley Vizag initiative with the aim of building Visakhapatnam, or Vizag, into a world-class fintech ecosystem bringing together government, academia, corporates, investors and entrepreneurs. FinTech Valley Vizags chief architect, Andhra Pradesh Chief Minister Chandrababu Naidu, has done thi Continue reading >>

Budget 2018: India's Government Wants To Kill Bitcoin, But It Loves Blockchain Quartz

Budget 2018: India's Government Wants To Kill Bitcoin, But It Loves Blockchain Quartz

Andhra Pradeshs neighbour, Telangana, too, is digitising its property documentation system . Beyond land registries, blockchain can also put an end to other fraud like identity theft. To reduce the chances of getting hacked, a growing concern in India, the web-based platform can manage digital IDs. Currently, if you sign up or pay for something on the internet, you turn over unencrypted personal info that gets stored all over internetcreating a honeypot that attracts attackers to breach that service, Cary said. With blockchain, only encrypted, relevant information will be released whenever necessary. A step ahead of other states in implementing the technology for land registries, Andhra Pradesh also entered into a partnership with cybersecurity firm WISekey , making it a frontrunner in securing citizens data as well. Recently, the Maharashtra government called upon industry leaders, researchers, and others to devise ways of incorporating blockchain in e-governance operations. The government is one of the biggest data creators and data consumers. Blockchain will bring in more efficiency, transparency, accountability, and accessibility in data flows, the states chief minister, Devendra Fadnavis, said at the Maharashtra Technology Summit (MTech) on Jan. 17. Amid all the talks of curbing cryptocurrencies, Indias central bank, the Reserve Bank of India, still believes that blockchain technology is ripe for adoption . Banks in India are already relying on blockchain to enable overseas transactions, international remittances, and other processes. The spread of blockchain use in the private sector use of in industries like insurance, healthcare, manufacturing, among others, could also lessen significant burdens that befall the government. Capitalising on the block chain techno Continue reading >>

Indian Software Firm, Canadian Research Institute Partner To Promote Blockchain In India

Indian Software Firm, Canadian Research Institute Partner To Promote Blockchain In India

Indian Software Firm, Canadian Research Institute Partner To Promote Blockchain In India Indian software company NASSCOM and the Canadian Blockchain Research Institute have partnered to promote Blockchain research and application across India. Indias National Association of Software and Services Companies (NASSCOM) signed a memorandum of understanding (MoU) with Canadas Blockchain Research Institute (BRI) to collaborate on Blockchain education and training in India , tech news outlet CIO reported yesterday, Feb. 22. BRI tweeted a photo of their co-founder, Don Tapscott, signing the MoU alongside Sanjay Tugnait, CEO of consulting firm Capgemini Canada, and Sangeeta Gupta, VP for NASSCOM: BRI co-founder and Executive Chairman @dtapscott signed an MoU with @nasscom to help foster #blockchain innovation in India. pic.twitter.com/Mqc6tT1NFZ Blockchain R.I. (@blockchainRI) February 21, 2018 NASSCOM and BRI together will establish the Centre of Excellence in India, designed to foster the adoption of Blockchain technologies in education, government, and startups, according to Indian information platform Inc42 . Raman Roy, Chairman of NASSCOM, said that the new alliance aimed at fostering Indias Blockchain environment will help enhance our vision for a digital economy: We believe Blockchain is a transformative technology for businesses. It is imperative that we identify and explain key application opportunities, issues, strategies and approaches that enable companies and governments to capitalize on this emerging technology. In relationship to the partnership, Don Tapscott said, "We need to create an awakening in India, showcase the power of Blockchain, CIO reported. A misinterpretation of the Indian Finance Ministers warnings of a crackdown on cryptocurrencies that finance ill Continue reading >>

More Crypto Jobs In India, Despite Delhis Stance On Bitcoin

More Crypto Jobs In India, Despite Delhis Stance On Bitcoin

More Crypto Jobs in India, Despite Delhis Stance on Bitcoin Jobs and applicants for employment in the cryptocurrency sector have increased substantially in India, despite current attitudes in Delhi towards bitcoin. Significant growth has been registered in the second half of last year, a period of great uncertainty about the crypto future of the country. This month Indian government reaffirmed its commitment to eliminate illicit use of cryptocurrencies. New regulations are expected in March. Also read: Survey: Indians See Brighter Crypto Future than Americans The number of cryptocurrency and blockchain related job postings has increased by 290 percent in the six months to November 2017. The trend was reported by the Indian branch of the global job site Indeed. During the same period, job searches with crypto related keywords also rose by 52 percent. Describing it as a promising and exciting new field of work, the Managing Director of Indeed India , Sashi Kumar, noted the sector was still in a very nascent stage. He said that the global market for blockchain related products and services is expected to reach $7.7 billion in 2022, Business Standard reported. The expert believes this is indicative of even more jobs being created in the future. According to Indeed, India can look forward to a truly digital economy, despite Finance Minister Arun Jaitleys recent confirmation that cryptocurrencies are not a legal tender in country. His announcement came with the presentation of Budget 2018. The Indian crypto community had hoped for more clarity about taxation of cryptocurrency incomes, profits and transactions. Businesses willing to invest in mining and companies involved in trading have also asked for clear policy guidelines. The Indian government has responded by forming a Continue reading >>

Bitcoin, Ethereum, Ico, Blockchain - Crypto News India

Bitcoin, Ethereum, Ico, Blockchain - Crypto News India

Ripple XRP & Google Pay Partnership Could Sky Rocket The Price! US President Trump Bans US Citizens From Buying Petro President Donald Trump of theUShas banned theVenezuelangovernment-backed cryptocurrency, thePetro, by executive order March 19, Bloombergreports. The ban reportedly comes as part of a campaign to put pressure on the Venezuelan government of President Nicolas Maduro. By the order, US citizens are banned from engaging in transactions using the oil-indexed digital Japans Third-Largest Electric Provider Is Testing Bitcoin On Lightning Japans third-largest electricity provider is emerging as one of the first major companies in the world to trial a promising bitcoin payments technology. Revealed exclusively to CoinDesk,Chubu Electric Power Co. has entered into a proof-of-concept with local bitcoin and Internet of Things (IoT) startupNayuta, one that finds it exploring howbitcoin Google Searches For Bitcoin Hit Lowest In Five Months It appears like most individuals are not as much interested like it was previously in bitcoin. This is due to the fact that Google searches that are usingBitcoinas the keyword is at the lowest. Indeed, this is the lowest recorded when based on the Google trends since the time Bitcoin Continue reading >>

India Signals Ban On Cryptocurrencies, Embraces Blockchain

India Signals Ban On Cryptocurrencies, Embraces Blockchain

Updated India has vowed to ban the use of cryptocurrencies within its borders, it appears. News of the clampdown was delivered by finance minister Arun Jaitley in his annual budget speech (PDF) delivered on Thursday. The government does not consider crypto-currencies legal tender or coin and will take all measures to eliminate use of these cryptoassets in financing illegitimate activities or as part of the payment system, Jaitley said at paragraph 112 of the speech. So, er, is that a crackdown on cryptoassets used for illegal purposes, or a crackdown on cryptoassets used for illegal purposes and legal payment systems? And what about not considering it legal tender? The ambiguous statement has been widely interpreted as an upcoming blanket ban on digital cash, although crypto-coin investors and exchanges are holding on dear to the interpretation that India will only be going after cryptoassets used in unlawful activities. In his speech, Jaitley added the government will explore use of block chain technology proactively for ushering in digital economy. The minister also announced more money for the digital economy: itll get double the funding this year at 3,073 crore (about US$500m). All three positions are consistent with government policy. India to launch moon mission in March 2018 In recent years India has made two big reforms. 2016s effort was demonetisastion and saw large banknotes invalidated. In 2017 India introduced a single sales tax covering the nation, replacing state-based sales taxes that saw charges levied at borders between states. Both were efforts to crimp the cash economy and broadening Indias tax base. Refusing to allow cryptocurrency transactions will probably achieve the same goals, given the anonymity such instruments afford. India is also digitisin Continue reading >>

What Blockchain Has To Do With Indian Ban On Pwc

What Blockchain Has To Do With Indian Ban On Pwc

What Blockchain Has to Do With Indian Ban on PwC Tech Mahindra, company that merged troubled Satyam clearly sees its time to move to the new ledger system. On Jan.10 the Securities and Exchange Board of India (SEBI) barred PricewaterhouseCoopers (PwC), one of the Big Four accounting firms, from auditing India listed firms for two years for failing to spot $1.7 bln accounting fraud at IT services company Satyam Computer Services. The Satyam accounting fraud scandal followed by its downfall broke on Jan. 7, 2009 when Satyams then chairman, Byrraju Ramalinga Raju admitted to fictitiously overstating the companys cash balance by $1.7 bln or by 94 percent with the help of its auditor PwC. Due to this accounting scandal, Satyams shareholders lost as much as $2.2 bln as its stock value tanked. As the independent guarantor of Satyams financial information, PwC -- following in the footsteps of Arthur Andersen -- ignored the glaring anomalies in the financial details reported by Satyam, which inflated its revenue with 7,561 fake invoices. Arthur Andersen was auditor of Enron Corp., whose shareholders lost $74 bln in the all-time worst US corporate accounting scandal in 2002. Arthur Andersen not only breached publics trust by aiding in Enrons accounting fraud but went a step further by obstructing justice as well. Arthur Andersens accountants rolled up their sleeves and shredded tons of Enrons fraudulent accounting/audit records as the company's billions in losses hidden in off-the-balance-sheet-offshore-entities came under US government scrutiny. The US Department of Justice (DOJ) shuttered Arthur Andersen on March 14, 2002, by charging it criminally . This reduced the number of worlds big accounting firms from Big Five to Big Four. The triple-entry accounting system makes debut Continue reading >>

Indias Silicon Valley Partners With Local Fund To Build Largest Blockchain Ledger

Indias Silicon Valley Partners With Local Fund To Build Largest Blockchain Ledger

Indias Silicon Valley Partners With Local Fund To Build Largest Blockchain Ledger A statewide Blockchain initiative is coming to the Indian state of Andhra Pradesh via a partnership with Covalent Fund. Indias eighth-largest state Andhra Pradesh has partnered with local Covalent Fund to build the largest Blockchain stack for its government, according to an article published by Inc42 on Friday, Jan. 19. Andhra Pradesh will jointly develop Velugu Core, which is supposed to be a Blockchain version of Indias governance network India Stack at the local level. Velugu, which means illumination in the states local language Telugu, will form part of its ongoing Fintech Valley Vizag technology initiative. In comments to news outlet inc42, Ram Yalamanchili, partner at Covalent Fund, described Velugu as the largest, open and cryptographically secure ledger of information on a blockchain protocol designed in compliance with the Indian regulatory framework. Blockchain offers a completely new paradigm for applications built on expressive protocols with nascent market penetration and a massive interest from early-stage venture capital. Indias Blockchain journey has accelerated in scope since 2016 after the national government under Narendra Modi warmed to the technology. However, India is still highly divisive in its treatment of cryptocurrency - which so far remains the primary use case for Blockchain. State-level initiatives have occurred in various forms for several years, nevertheless remaining as smaller-scale ventures, making Velugu a pioneering setup to bring vast swathes of bureaucracy onto the Blockchain. The Government of Andhra Pradesh envisages to become blockchain enabled via its digital assets by 2019, IT minister Nara Lokesh continued. We are bullish on blockchain as a t Continue reading >>

Nasscom Teams With Blockchain Institute For Digital Economy

Nasscom Teams With Blockchain Institute For Digital Economy

NASSCOM Teams with Blockchain Institute for Digital Economy Feb 22, 2018 at 09:00 UTC|UpdatedFeb 22, 2018 at 12:31 UTC One of India's leading tech industry organizations is partnering with the Blockchain Research Institute (BRI) to help spur a digital economy within the world's second most-populous nation. India's information technology trade organization, the National Association of Software and Services Companies (NASSCOM) will work with BRI researchers backed by the Canadian government to help developers learn more about blockchain platforms in preparation for creating and launching tools within the nation. To that end, the two groups have signed a memorandum of understanding (MoU) establishing a financial and research partnership. According to media platform INC42 , each organization will invest in webinars and other types of seminars whereby researchers within the BRI can share their knowledge using case studies with Indian government departments and other entities. NASSCOM chairman Raman Roy said that, while he is delighted to launch a research initiative, he understands that encouraging blockchain use in the country will be a long-term effort, rather than "a plug and play we can do tomorrow," according to the International Data Group's CIO India . To this end, the MoU splits the research push into two parts, said BRI's Don Tapscott. He explained: "We need to create an awakening in India, showcase the power of blockchain and we can do this by looking at incentives/discounts to organizations who do this. That's phase one." Phase two would build a blockchain institute in India, which will be specifically aimed at helping grow the digital ecosystem in the state of Telengana, according to INC42. CNN reports that this center would "provide high-end technology capabili Continue reading >>

India Turns Against Bitcoin But Embraces Blockchain

India Turns Against Bitcoin But Embraces Blockchain

Bloomberg the Company & Its Products Bloomberg Anywhere Remote LoginBloomberg Anywhere Login Bloomberg Terminal Demo Request Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. India Turns Against Bitcoin But Embraces Blockchain Govt doesnt consider cryptocurrencies legal tender: minister People are getting scared: cryptocurrency exchange official Indias government said it doesnt consider cryptocurrencies as legal tender and will take all measures to eliminate payments using them. The government does not consider cryptocurrencies legal tender or coin and will take all measures to eliminate use of these crypto-assets in financing illegitimate activities or as part of the payment system, Finance Minister Arun Jaitley told lawmakers in New Delhi on Thursday. The government will explore use of blockchain technology proactively for ushering in digital economy. reaching a peak of almost $20,000 in early December after the introduction of futures contracts on regulated exchanges in the U.S., a series of negative news has buffeted Bitcoin and rival cryptocurrencies, with losses intensifying since the start of 2018. Bitcoins January slide knocked $44.2 billion off the $200 billion in market value generated in all of 2017, the biggest one-month loss in dollar terms in the short history of digital assets. The cryptocurrency fell by 30% to start the year, erasing $44 billion in market value The South Asian nations income tax officials had started in Continue reading >>

India: Bitcoin Prices Drop As Media Misinterprets Govts Regulation Speech

India: Bitcoin Prices Drop As Media Misinterprets Govts Regulation Speech

India: Bitcoin Prices Drop As Media Misinterprets Govts Regulation Speech Indias finance minister has said the country will crack down on illegitimate uses of cryptocurrency, but misinterpretations of his words as an outright ban are infecting markets Bitcoin markets are reacting to fresh regulatory comments on crypto from Indias finance minister Arun Jaitley, made during his most recent budget speech in the Parliament today, Feb.1. After Jaitley noted in his speech that cryptocurrency is not legal tender in the country and promised a crackdown on illegitimate activities involving crypto, a flood of misinterpreted comments warning of an outright ban appeared across the mainstream press and social media. Markets in turn fell in trading on Thursday, Bitcoin dipping below $9,512 after breaking $10,300 Wednesday, Jan. 31, data from Bitstamp shows. India has been sporadic in its attempts to formalize cryptocurrency regulation over the past two years. Since the countrys currency reforms, interest in Bitcoin especially has skyrocketed, with local exchanges reporting huge growth . At the same time, Indias central bank has issued repeated warnings on cryptocurrency investment, some of which appeared tantamount to calling it illegal . During his budget speech today, Jaitley stated: The government does not recognise cryptocurrency as legal tender or coin and will take all measures to eliminate the use of these cryptoassets in financing illegitimate activities or as part of the payments system. While Jaitleys speech noticeably avoided any mention of legality of crypto in and of itself, commentaries by third parties and mainstream media journalists controversially claimed that a ban was imminent. Arun Jaitley has just killed Indias cryptocurrency party, Quartzs article on the subje Continue reading >>

Canada: India Could Lead 'blockchain Revolution' - Feb. 21, 2018

Canada: India Could Lead 'blockchain Revolution' - Feb. 21, 2018

Related: Cryptocurrency regulation is 'inevitable,' says IMF chief The Indian government has repeatedly warned that virtual currencies have no official backing, even likening them to "Ponzi schemes" earlier this year. Experts believe India could be preparing tough regulations , following recent moves in this direction by China and South Korea . But India is also gung-ho about the underlying technology. Finance Minister Arun Jaitley said recently that the country would "explore use of blockchain technology proactively," even as he was denouncing cryptocurrencies in his annual budget speech. Related: India could be a buzzkill for bitcoin Canada's BRI, whose stated goal is to "build blockchain-based economies around the world," also touted India as the next big frontier for the technology. "We see our coalition with Nasscom as a delightful opportunity to nurture the blockchain community in India," Don Tapscott, the institute's founder and executive chairman, said in a statement. "We strongly believe that India has the potential to lead the blockchain revolution," he added. Canada has become an attractive destination for bitcoin "miners," who use computer algorithms to unearth the virtual currency by solving math problems, as big markets like China crack down on the activity. CNNMoney (New Delhi) First published February 21, 2018: 8:04 AM ET Continue reading >>

Blockchain: Latest News, Videos And Photos | Times Of India

Blockchain: Latest News, Videos And Photos | Times Of India

A blockchain also referred as block chain, is a process of continuously growing list of records, known as blocks that are linked and secured using cryptography. Each of the blocks created contains a hash pointer that links previous block, a timestamp and a transaction data. Design wise these block chains are inherently resistant to data modification. A blockchain can work as "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way." To be used as a distributed ledger, a blockchain has to be managed by a peer-to-peer network collectively adhering to a protocol for validating new blocks. Once data is recorded in any block, it can't be altered retroactively without altering all subsequent blocks that requires a collusion of the network majority. Secured by its design, blockchains are a kind of distributed computing system having high Byzantine fault tolerance. It makes blockchains highly suitable for the recording of data such as events, medical records, and other records. The data management activities, such as identity management, transaction processing, documenting provenance, or food traceability can also be performed easily. In 2008, Satoshi Nakamoto conceptualized the first distributed blockchain and implemented it the following year as a core component of the bitcoin - a digital currency. Blockchain serves as the public ledger for all bitcoin transactions done online. Continue reading >>

Bitcoin Ban - Blockchain News: Why Is India Banning Btc But Embracing Blockchain? | City & Business | Finance | Express.co.uk

Bitcoin Ban - Blockchain News: Why Is India Banning Btc But Embracing Blockchain? | City & Business | Finance | Express.co.uk

Bitcoin in India: Has India just destroyed Bitcoin? Will BTC crash? It is operating online thats a separate matter there have been expert groups which have been set up on how to deal with this situation, whose reports are now awaited. But this is not a legal tender and this is a clear position which has been set out even recently as late as the 29th of December by the Government of India. And yet amid the crackdown on the bitcoin crypto token, the Minster outlined his bold plan to push Indias economy into the digital age by exploring the use of blockchain technology. Buy why does the Indian Government appear to be keen on using blockchain while avoiding bitcoin and other similar crypto tokens. The core concept of blockchain is a decentralised and fully transparent peer-to-peer transaction ledger, where the users on the network monitor and verify all transfers of money. Finance Minister Arun Jaitley reiterated his Government's position on the illicit use of bitcoin Fintech entrepreneur Marc Andreessen described it as one of the most consequential breakthroughs in financial technology. The Government will explore use of blockchain technology proactively of ushering in digital economy He said: The practical consequence is for the first time, a way for one Internet user to transfer a unique piece of digital property to another Internet user, such that the transfer is guaranteed to be safe and secure, everyone knows that the transfer has taken place, and nobody can challenge the legitimacy of the transfer. The consequences of this breakthrough are hard to overstate." Proponents of this new technology believe that blockchain can pave the way for greater transparency, reduced infrastructure costs and improved security. Mr Jaitley now said that importing blockchain into India Continue reading >>

More in ethereum

  • Does Ethereum Wallet Mine

    Hi Everyone - My apologies if this question has already asked and answered. I just haven't been able to find anything. ...

    ethereum Mar 26, 2018
  • Reddit Ethereum Guide

    Welcome to /r/EthTrader | Foundation Tip Jar | Rules | Policy | Mod Logs | Vote Tracking | News Timeline | Education | ...

    ethereum Mar 28, 2018
  • Bitcoin Trade Simulator

    After successfully completing the first alpha test round, the Synereo team is proud to publicly announce Qrator. Ethere...

    ethereum May 10, 2018
  • Bitcoin Bank Negara 2017

    Governments around the world are actively looking for ways to regulate Bitcoin and other cryptocurrencies. That is much...

    ethereum May 10, 2018
  • Bitcoin Id Fb

    Facebook is banning all ads promoting cryptocurrencies including bitcoin and ICOs Its an intentionally broad policy aim...

    ethereum May 10, 2018
  • Prediksi Bitcoin Februari 2018

    WINKLEVOSS BERSAUDARA PREDIKSI BITCOIN AKAN MENEMBUS HARGA $320.000 WINKLEVOSS BERSAUDARA PREDIKSI BITCOIN AKAN MENEMBU...

    ethereum May 10, 2018
  • Where To Mine Ethereum

    First you need a computer, or graphics card, that is capable of computing an algorithm that it attempts to solve in ord...

    ethereum Mar 24, 2018
  • Bitcoin Heist Film

    Bitcoin Heist: The Full Length Crypto-Themed Film Jamie Redman December 1, 2015 5:31 pm A new full-length cryptocurrenc...

    ethereum May 10, 2018
  • Create Ethereum Account

    Creates a new account and prints the address. The account is saved in encrypted format. You must remember this passphra...

    ethereum Mar 29, 2018